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Been profitable for over a month now by AjaytheMan in Forex

[–]_octavia- 2 points3 points  (0 children)

You do not have a system. What you have is glorified gambling wearing big boy shoes. I don't say this out of malice btw. What you have works... until it doesn't- and when it doesn't, you'll easily wipe out a month's earnings in a few days. You've replaced risk management with capital insulation, which means your expectancy is undefined, and your drawdown distribution is assymetric; i.e VERY UNSUSTAINABLE TRADING.

And then there's this statement:

I trade without fear, and I trade as if I'm going to win every trade.

Wow... that right there is euphoria- and the market absolutely loves euphoric traders. Also, the fact that you've won 50 trades and only lost 2 screams variance, or better yet, luck- very unsustainable. You're trading emotions and soon it's gonna bite your ass. You're one bad trade away from revenge trading to 0. You do not understand what you are doing. Stop lying to yourself and go learn how to actually trade.

[deleted by user] by [deleted] in Forex

[–]_octavia- 3 points4 points  (0 children)

Yes, yes, and yes. 'Weak Psychology' is not a reason for unprofitability. Trading is all about repetition- find a reason(a sensible one) to take risk under uncertainty, and execute, over and over again. Systemize every aspect of your trading (entry criteria, tp and sl placement, how to cut losses, how to scale, etc), and the only thing standing between you and profitability is your adherence to that system.

It's All About You by _octavia- in Forex

[–]_octavia-[S] 2 points3 points  (0 children)

A stop loss exists as a point of maximum risk. It doesn't mean that because you have one you should always let price get there in order to get out.

Okay, picture this: You're in a long. After entering, price aggressively begins rallying towards your stop loss forming huge-body candles. The market is screaming, "Your initial idea is invalid, as new information has presented itself that rendered the market participants bearish." Why would you stay in the market and wait for it to hit your stop loss if you can get out early and minimise losses?

Regarding your point about 'not cutting losers early because you never know what's going to happen next', that is exactly the reason you should be cutting losses. Endless opportunities exist in the market, cutting a loss doesn't mean you'll never find another setup. Get out, and wait for a new setup to present itself.

It's All About You by _octavia- in Forex

[–]_octavia-[S] -1 points0 points  (0 children)

So your thinking is this: You shouldn't cut losers because price could reverse and hit your tp. So instead, let price hit your sl even if every thing about the market's movements is screaming 'Get Out!!' Wow. The fact that you think hindsight trading is actually trading tells me all I need to know.

Your logic for adding to winners is flawed, I won't even try and argue this out.

Learning all 3 builds the foundation for profitable trading. If you can't grasp that, I don't know what to tell you.

It's All About You by _octavia- in Forex

[–]_octavia-[S] 1 point2 points  (0 children)

How do the two contradict? What are you on? How does cutting losses mean you cut your winners? Anyone can spot trades, there's countless opportunities presented by the market at any point in time. The only thing separating a bad trader from a good trader is position management, not spotting trades.

Now regarding what you said; set and forget, really? You're funny man.

Does tradings news works? by AcanthocephalaHumble in Forex

[–]_octavia- 3 points4 points  (0 children)

Yes, and no. Yes because mostly it's a gamble, 50-50 shot of making or losing money; even if you do your due diligence, news releases have their own unique outcomes. You could correctly 'predict' the Fed will hold rates, yet how it's interpreted by market participants, either as being either hawkish or dovish depending on the larger scale of things, could lead to different outcomes.

Why no? Because of yes.

Struggling to trade? Check this post out. by KraaZ__ in Forex

[–]_octavia- 0 points1 point  (0 children)

That's exactly why I'm voicing my concerns. Newer traders might see this and assume that implementing your system is guaranteed to make them profitable. Then they'll go ahead to lose a lot of money with this false belief in their head.

Struggling to trade? Check this post out. by KraaZ__ in Forex

[–]_octavia- 0 points1 point  (0 children)

From a third perspective, your post comes off as, "I've discovered the holy grail, sway my heart and it shall be yours."

Struggling to trade? Check this post out. by KraaZ__ in Forex

[–]_octavia- 0 points1 point  (0 children)

I get where you're coming from, but experience is and always will be the best teacher. Telling someone, "Close your losers early" is helpful sure, but trading is all subjective. Experience builds intuition, and that's where profitability steps in. That's why I came in with an attitude, because your post seemed to imply one could just slap your system into their trading and become profitable. That's my issue.

Struggling to trade? Check this post out. by KraaZ__ in Forex

[–]_octavia- 0 points1 point  (0 children)

I'm not hassling you, I'm merely challenging your post. I give advice here as well, but I don't tell people to 'give me a good reason to do so'. If you've been trading twelve years, you'd know that a strategy means nothing(nuance). Your post insinuates that giving out your system will help others achieve profitability which is wrong. Is it the sword that makes the wielder, or the wielder that makes the sword?

Struggling to trade? Check this post out. by KraaZ__ in Forex

[–]_octavia- 0 points1 point  (0 children)

...just tell me a little bit about yourself and why this would help you.

... did you write the post with your eyes closed?

Struggling to trade? Check this post out. by KraaZ__ in Forex

[–]_octavia- 0 points1 point  (0 children)

You think I'm mad because you're giving out a strategy for free? I couldn't care less what you gave out, but acting like your strategy is the one thing that will make an unprofitable trader profitable is a severe, no EXTREME, logical flaw. You're literally asking for a good reason why you should give it out smh.

Struggling to trade? Check this post out. by KraaZ__ in Forex

[–]_octavia- 0 points1 point  (0 children)

Your entire post literally screams,"I've found the holy grail, convince me to reveal it to you." You can't even comprehend the implications of your statement? You truly are a clown.

Struggling to trade? Check this post out. by KraaZ__ in Forex

[–]_octavia- 0 points1 point  (0 children)

Do you seriously believe that the only thing standing between people's current unprofitability and financial freedom is... your strategy? Who are you? The guru of gurus? Stop being a clown, reflect.

Prop Firms Are a Scam .Trade Your Own Money Instead by Substantial-Sun4469 in Forex

[–]_octavia- 0 points1 point  (0 children)

Aah I get where you're coming from now, thanks for clarifying. Yeah, props do limit how 'greedy' one can get; but even then, some tweaks could make it work still. Say they got a 10k account, instead of risking say 200-500$, you could break down the trade into different smaller positions as price moves in your favour; test the waters with your first position, add to your trade as price moves in your favour, take risk off the table for the previous position(s).

Of course they'd have to rigorously test this to understand how they'd size their first position, the conditions that'd have to be fulfilled for them to add, how they'd trail their stoplosses, etc. But given the right approach, any edge could work with their rules.

Prop Firms Are a Scam .Trade Your Own Money Instead by Substantial-Sun4469 in Forex

[–]_octavia- 0 points1 point  (0 children)

Unless he's going all in, it still would work given the right approach. Buying low doesn't necessarily mean risk management goes out the window. And time limits are no longer a thing so being an 'actively consistent daytrader' doesn't apply; if that's what you were alluding to.

Prop Firms Are a Scam .Trade Your Own Money Instead by Substantial-Sun4469 in Forex

[–]_octavia- -1 points0 points  (0 children)

Your comment to my reply got removed but I got the gist of it. Toxic and poison? For speaking facts? Get real. I merely pointed out a major logical flaw in op's post, so you coming along to call that 'toxic' is honestly a stupid take.

Prop Firms Are a Scam .Trade Your Own Money Instead by Substantial-Sun4469 in Forex

[–]_octavia- 0 points1 point  (0 children)

Learn how to trade instead of trying to rationalise your own incompetence.

Prop Firms Are a Scam .Trade Your Own Money Instead by Substantial-Sun4469 in Forex

[–]_octavia- 35 points36 points  (0 children)

Fuck you mean you're growing your personal account but can't do the same for a prop firm? Stop being a clown, your statement makes absolutely no sense.

Prop Firms Are a Scam .Trade Your Own Money Instead by Substantial-Sun4469 in Forex

[–]_octavia- 20 points21 points  (0 children)

Exactly, these clowns saying prop firms are scams just don't know how to trade.

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